Provide property tax exemption for senior care facilities and housing

This bill (LC 1863) provides a temporary property tax exemption during construction for new senior care and housing development projects. It applies specifically to nonprofit organizations (501(c)(3) status) developing facilities for seniors 62+ or 55+ per federal housing rules. Local governments must approve each project via public hearing to confirm community need before the exemption begins. The tax break ends once construction is complete or if the facility is sold to a for-profit entity.